➢ Process vouchers ➢ Process payments ➢ Period end processing
and reporting
Accounts Payable
Objectives
➢ To maximise processing efficiency ➢ To ensure invoices are processed to agreed terms ➢ To ensure payments made only when due and
➢ Speed of processing supplier amendments
➢ Invoices processed ➢ Invoice processing
time ➢ Number of payments ➢ Period end closure
time
Accounts Payable - Best practice features
➢ Consolidated periodic invoicing for high frequency suppliers
➢ All transactions completed before period closed
➢ Reconciliation of Accounts Payable activity and reconciliation with General Ledger control account
➢ Segregation of duties between supplier set up, voucher processing and payment processing
Process Features
➢ Accounts payable process vouchers: invoices, expense claims, credit notes, debit memos and prepayment requests
payable ➢ To ensure liabilities are fully recorded and
distributed correctly ➢ To achieve effective balance between extending
credit and maintaining good relations with suppliers ➢ To take full advantage of opportunities to recover VAT
➢ Automatic matching of invoice to order and goods received note (GRN)
➢ Interface with General Ledger, Purchasing, Fixed Assets and Project Accounting
➢ Suppliers required to use PO number on all documents and three way match wherever possible
➢ Optimisation of early payment discounts
➢ Payment runs properly authorised
➢ Audit trail of changes to supplier payment details
Process vouchers
Process payments
System Features
➢ Purchase invoices transacted via EDI with major suppliers wherever possible
➢ Supplier relations ➢ Creditor control
Information Systems
➢ Interface between Accounts Payable and other related processes
➢ Shared employee and supplier details
Maintain supplier details
Process vouchers
Process payments
Period end processing and reporting
➢ Authorise and set up new suppliers payment details
➢ Maintain supplier payment details
➢ System validation and approval checks
Controls
➢ Authorisation rules ➢ System access controls ➢ User procedures ➢ Validation and matching
rules
Measures
➢ Electronic validation and approval of invoicቤተ መጻሕፍቲ ባይዱs
➢ Electronic payments
➢ Default payment terms held on supplier file with manual override at P.O. and invoice
212普华永道财务管理最佳 实践之应付管理
Accounts Payable - Best Practice Objectives
Organisation
People
➢ Centralised processing ➢ Outsourcing potential
Processes
➢ Maintaining supplier details
➢ Management reports run once period is finally closed
Accounts Payable - Best practice features
Maintain supplier details
➢ Single supplier database
➢ Single employee database